Asian firms’ first quarterly profit drop since mid-2016

BENGALURU: Holiday-quarter profit at Asian companies is likely to drop for the first time in more than two years, following a small rise in the July-September period, as slowing exports, falling factory output and the Sino-US trade war take their toll.

Analysts expect profit to drop by an average 8% for about 2,000 Asian companies over October-December from a year ago, weighed down by slowing growth for firms in the technology, telecommunications and auto sectors, Refinitiv data shows.